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How to select a suitable Business Location?

Selecting a suitable location for your business is an important step for business future. You must give this task first priority while initiating or expanding your business services.
BY Meghna Agarwal
Co-founder, Indiqube
Aug 08,2017

Choosing a right business location is probably the most critical decision a small business owner or start-up will have to make. It involves a lot of in-depth study of understanding things which are important for a company.

Having a business address in a premium location gives the perception of a successful, confident and professional company. Potential customers can feel safe in the knowledge that your business is both established and trustworthy based on a recognisable location.

Opening the office is one of the first, big investments entrepreneurs and small business will look at, but it should be made carefully as it could be the game changer for your business if the decision is poorly made.

Here are few steps to look at before you choose your workspace.

1. Connectivity You need to address these fundamental questions.

How easily can employees get to work?

Will your clients be able to visit you without much hassle?

Whether transportation easily available or not?

Whether raw materials and other necessary resources easily available or not?

2. Work-life balance Employees hold the key.

Current employees - The travel time from office to home and back are one of the most important aspects that decide the longevity of an employees tenure.Attracting new talent Office act as a first point of an impression for the prospects visiting the office for the first time enabling you to tap aspirational value.

3. Hot talent zone- Locations with best talent zones.

An opportunity to be a preferred employer.It is a great advantage to have your office space in the heart of the hot talent zone; it not only helps attract talent but also retains them with quality work life balance.

4. Future growthCan the office accommodates your growth?

Its important to have a futuristic approach to your growth plan, can your office accommodate the growth. Changing or relocating of office space often is a cost, but also gets the employee of its comfort zone which in turn can reduce the productivity.

5. Enough space for your office as a brand Adding a personality to your office.

Office space is one behind the scenes factor that can directly influence branding, namely bringing brand values into the workplace. Inculcate the Values and culture, the design of the office could be based on the brands ethos to create an employer brand.

6. Hangout and recreation facilities A key to grow.

Having restaurants nearby gives you the option of taking your clients to lunch if need be. They are also crucial to your employees, giving them a few minutes out of the office to refresh and refuel for the afternoon.

7.Parking Availability- Comfort for clients and workforce.

Ample parking is important for customers and employees. If customers are unable to find suitable parking, they might choose to visit a competitor who has the same qualified services with more convenient parking. You also need adequate space for employees to park at or near your location.

Conclusion

Finalising a location for a business is a huge step for an entrepreneur, as it takes a lot of investment and also plays a major role in business growth. Above mentioned points must be considered for reference while selecting your business location. A good location will benefit your business to enhance its operations so must take a decision after proper research and analysis.

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